NEW YORK, April 6 (Xinhua) -- JPMorgan Chase Chairman and CEO Jamie Dimon highlighted the risks the U.S. economy faces from the ongoing war with Iran in his annual letter to shareholders on Monday.
"Now, because of the war in Iran, we additionally face the potential for significant ongoing oil and commodity price shocks, along with the reshaping of global supply chains, which may lead to stickier inflation and ultimately higher interest rates than markets currently expect," said Dimon.
While ranking the war in Iran among the top-tier challenges, the veteran banking executive also noted risks from high global sovereign deficits and debt, elevated asset prices with low credit spreads, and trade tensions, among others.
He added that the U.S. economy has been fueled by large amounts of government deficit spending and past stimulus, and that increased expenditure on infrastructure remains a growing need.
The letter also noted that JPMorgan Chase earned revenue of 185.6 billion U.S. dollars and net income of 57 billion dollars for 2025. ■
